Hartford Funds Management Co LLC Has $693,000 Position in AMETEK, Inc. (NYSE:AME)

Hartford Funds Management Co LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,202 shares of the technology company’s stock after purchasing an additional 293 shares during the period. Hartford Funds Management Co LLC’s holdings in AMETEK were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AME. Lincoln National Corp raised its stake in shares of AMETEK by 6.1% during the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after purchasing an additional 83 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after buying an additional 85 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in AMETEK by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock valued at $528,000 after buying an additional 85 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of AMETEK by 1.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 5,319 shares of the technology company’s stock valued at $877,000 after purchasing an additional 94 shares in the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in shares of AMETEK by 1.1% during the fourth quarter. Waldron Private Wealth LLC now owns 8,536 shares of the technology company’s stock valued at $1,407,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Truist Financial began coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Royal Bank of Canada reduced their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Stock Performance

AME stock traded down $3.08 during midday trading on Tuesday, hitting $174.61. The company’s stock had a trading volume of 1,138,334 shares, compared to its average volume of 932,580. The stock’s 50-day moving average price is $180.19 and its 200 day moving average price is $165.90. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 2.84 and a beta of 1.22.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.64%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is currently 19.75%.

Insiders Place Their Bets

In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the sale, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,881 shares of company stock valued at $10,689,758. Insiders own 0.61% of the company’s stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.